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Russian wheat export prices rose sharply in the week to August 28 after Chicago and Paris futures gained and Egypt bought 530,000 tonnes for October shipment. IKAR priced 12.5% protein wheat at $211 a tonne FOB, up $9, and Sovecon priced it at $206.
Russian harvest was 67% complete and some Novorossiysk rail car limits were reported.
Strong import demand from Egypt and higher futures lift Black Sea wheat export values, supporting global wheat and feed-grain prices. Rail constraints at Novorossiysk add logistical tightness.
esmmagazine.comDayeeta DasAug 31, 2020After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Russian export prices jumped with Chicago and Paris futures and Egypt bought 530,000 t, confirming strong demand and a firm global wheat benchmark in the week before the move.
